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Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
OPERATING REVENUE        
Rental $ 139,143,000 $ 147,367,000 $ 278,198,000 $ 295,952,000
Operating expense reimbursement 47,511,000 56,151,000 98,597,000 114,467,000
Total operating revenue 186,654,000 203,518,000 376,795,000 410,419,000
OPERATING EXPENSE        
Rental property 24,745,000 31,949,000 53,255,000 67,520,000
Real estate taxes 25,202,000 26,462,000 50,522,000 52,626,000
General and administrative 15,629,000 17,053,000 36,619,000 35,855,000
Depreciation and amortization 53,545,000 56,833,000 107,623,000 115,629,000
Impairment - real estate assets 0 1,036,000 0 16,775,000
Total operating expenses 119,121,000 133,333,000 248,019,000 288,405,000
Operating income 67,533,000 70,185,000 128,776,000 122,014,000
OTHER INCOME (EXPENSE)        
Interest and other income 4,992,000 6,581,000 9,590,000 12,952,000
Interest expense (30,131,000) (35,066,000) (61,543,000) (69,736,000)
Total other income (expense) (25,139,000) (28,485,000) (51,953,000) (56,784,000)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 42,394,000 41,700,000 76,823,000 65,230,000
Gain on property dispositions 3,832,000 1,249,000 24,353,000 3,520,000
Income taxes (752,000) (1,169,000) (1,553,000) (2,014,000)
Equity in earnings (loss) of unconsolidated joint ventures 5,583,000 (5,254,000) 10,497,000 1,652,000
Income from continuing operations 51,057,000 36,526,000 110,120,000 68,388,000
Net income 51,057,000 36,526,000 110,120,000 68,388,000
Noncontrolling interest – operating partnership (1,317,000) (958,000) (2,826,000) (1,811,000)
Noncontrolling interest - consolidated joint ventures (113,000) (55,000) (113,000) (113,000)
Net income available to common shareholders 49,627,000 35,513,000 107,181,000 66,464,000
Comprehensive income attributable to common shareholders        
Net income 51,057,000 36,526,000 110,120,000 68,388,000
Other comprehensive (loss) gain - foreign currency translation (13,509,000) 12,151,000 (18,596,000) 1,741,000
Other comprehensive (loss) gain - derivative instruments (435,000) 628,000 (1,795,000) (319,000)
Other comprehensive (loss) gain (13,944,000) 12,779,000 (20,391,000) 1,422,000
Total comprehensive income 37,113,000 49,305,000 89,729,000 69,810,000
Less: comprehensive income attributable to noncontrolling interest (1,101,000) (1,309,000) (2,458,000) (1,957,000)
Comprehensive income attributable to common shareholders $ 36,012,000 $ 47,996,000 $ 87,271,000 $ 67,853,000
Weighted average number of common shares outstanding        
Basic 145,995 148,778 146,002 148,574
Diluted 146,735 149,454 146,622 149,247
Amounts attributable to common shareholders        
Net income available to common shareholders $ 49,627,000 $ 35,513,000 $ 107,181,000 $ 66,464,000
Liberty Property Limited Partnership [Member]        
OPERATING REVENUE        
Rental 139,143,000 147,367,000 278,198,000 295,952,000
Operating expense reimbursement 47,511,000 56,151,000 98,597,000 114,467,000
Total operating revenue 186,654,000 203,518,000 376,795,000 410,419,000
OPERATING EXPENSE        
Rental property 24,745,000 31,949,000 53,255,000 67,520,000
Real estate taxes 25,202,000 26,462,000 50,522,000 52,626,000
General and administrative 15,629,000 17,053,000 36,619,000 35,855,000
Depreciation and amortization 53,545,000 56,833,000 107,623,000 115,629,000
Impairment - real estate assets 0 1,036,000 0 16,775,000
Total operating expenses 119,121,000 133,333,000 248,019,000 288,405,000
Operating income 67,533,000 70,185,000 128,776,000 122,014,000
OTHER INCOME (EXPENSE)        
Interest and other income 4,992,000 6,581,000 9,590,000 12,952,000
Interest expense (30,131,000) (35,066,000) (61,543,000) (69,736,000)
Total other income (expense) (25,139,000) (28,485,000) (51,953,000) (56,784,000)
Income before gain on property dispositions, income taxes and equity in earnings (loss) of unconsolidated joint ventures 42,394,000 41,700,000 76,823,000 65,230,000
Gain on property dispositions 3,832,000 1,249,000 24,353,000 3,520,000
Income taxes (752,000) (1,169,000) (1,553,000) (2,014,000)
Equity in earnings (loss) of unconsolidated joint ventures 5,583,000 (5,254,000) 10,497,000 1,652,000
Net income 51,057,000 36,526,000 110,120,000 68,388,000
Noncontrolling interest - consolidated joint ventures (113,000) (55,000) (113,000) (113,000)
Preferred unit distributions (118,000) (118,000) (236,000) (236,000)
Net income available to common shareholders 50,826,000 36,353,000 109,771,000 68,039,000
Comprehensive income attributable to common shareholders        
Net income 51,057,000 36,526,000 110,120,000 68,388,000
Other comprehensive (loss) gain - foreign currency translation (13,509,000) 12,151,000 (18,596,000) 1,741,000
Other comprehensive (loss) gain - derivative instruments (435,000) 628,000 (1,795,000) (319,000)
Other comprehensive (loss) gain (13,944,000) 12,779,000 (20,391,000) 1,422,000
Total comprehensive income $ 37,113,000 $ 49,305,000 $ 89,729,000 $ 69,810,000
Weighted average number of common shares outstanding        
Basic 149,534 152,317 149,541 152,114
Diluted 150,274 152,993 150,161 152,787
Net income allocated to general partners $ 49,627,000 $ 35,513,000 $ 107,181,000 $ 66,464,000
Net income allocated to limited partners 1,317,000 958,000 2,826,000 1,811,000
Amounts attributable to common shareholders        
Income from continuing operations 50,944,000 36,471,000 110,007,000 68,275,000
Net income available to common shareholders $ 50,826,000 $ 36,353,000 $ 109,771,000 $ 68,039,000
Common shares [Member]        
Basic:        
Income per common share - basic $ 0.34 $ 0.24 $ 0.73 $ 0.45
Diluted:        
Income per common share - diluted 0.34 0.24 0.73 0.45
Distributions per common share or unit 0.475 0.475 0.95 0.95
Common Units [Member] | Liberty Property Limited Partnership [Member]        
Basic:        
Income per common share - basic 0.34 0.24 0.73 0.45
Diluted:        
Income per common share - diluted 0.34 0.24 0.73 0.45
Distributions per common share or unit $ 0.475 $ 0.475 $ 0.95 $ 0.95